ELTO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ELTO
Largest movements
- Cash -€2,065
down €2,065 (-56.2%), from €3,675 to €1,609
mainly Net result for the year (-€11,472) and Investment in fixed assets (net) (-€454)
- Receivables within one year +€362
up €362 (+22.4%), from €1,614 to €1,975
- Tangible fixed assets +€348
new in 2025: €348
- Deferred charges and accrued income +€326
up €326 (+50.0%), from €652 to €978
- Profit (loss) carried forward -€11,472
down €11,472 (-33.1%), from -€34,644 to -€46,116
- Other debts +€9,103
up €9,103 (+26.9%), from €33,820 to €42,922
- Trade debts +€1,002
up €1,002 (+155%), from €647 to €1,649
- Tax, wage and social debts +€338
up €338 (+10.6%), from €3,172 to €3,510
- Financial income -€7,515
no longer reported in 2025 (was €7,515)
- Gross operating margin -€2,588
down €2,588 (-33.2%), from -€7,784 to -€10,372
- Other operating charges -€224
down €224 (-25.4%), from €881 to €657
- Depreciation +€106
new in 2025: €106
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,455 | €22,426 | -€1,030 | -4.4% |
| Fixed assets | 21/28 | €17,515 | €17,863 | +€348 | +2.0% |
| Tangible fixed assets | 22/27 | - | €348 | +€348 | |
| Furniture and vehicles | 24 | - | €348 | +€348 | |
| Financial fixed assets | 28 | €17,515 | €17,515 | = | 0.0% |
| Current assets | 29/58 | €5,940 | €4,563 | -€1,378 | -23.2% |
| Amounts receivable within one year | 40/41 | €1,614 | €1,975 | +€362 | +22.4% |
| Other amounts receivable | 41 | €1,614 | €1,975 | +€362 | +22.4% |
| Cash at bank and in hand | 54/58 | €3,675 | €1,609 | -€2,065 | -56.2% |
| Deferred charges and accrued income | 490/1 | €652 | €978 | +€326 | +50.0% |
| Total equity and liabilities | 10/49 | €23,455 | €22,426 | -€1,030 | -4.4% |
| Equity | 10/15 | -€14,184 | -€25,656 | -€11,472 | -80.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,644 | -€46,116 | -€11,472 | -33.1% |
| Amounts payable | 17/49 | €37,639 | €48,081 | +€10,442 | +27.7% |
| Amounts payable within one year | 42/48 | €37,639 | €48,081 | +€10,442 | +27.7% |
| Trade debts | 44 | €647 | €1,649 | +€1,002 | +155% |
| Suppliers | 440/4 | €647 | €1,649 | +€1,002 | +155% |
| Taxes, remuneration and social security | 45 | €3,172 | €3,510 | +€338 | +10.6% |
| Taxes | 450/3 | €3,172 | €3,510 | +€338 | +10.6% |
| Other amounts payable | 47/48 | €33,820 | €42,922 | +€9,103 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €106 | +€106 | |
| Other operating charges | 640/8 | €881 | €657 | -€224 | -25.4% |
| Gross operating margin | 9900 | -€7,784 | -€10,372 | -€2,588 | -33.2% |
| Operating profit (loss) | 9901 | -€8,665 | -€11,134 | -€2,469 | -28.5% |
| Financial income | 75/76B | €7,515 | - | -€7,515 | |
| Recurring financial income | 75 | €7,515 | - | -€7,515 | |
| Financial charges | 65/66B | €154 | €163 | +€9 | +5.7% |
| Recurring financial charges | 65 | €154 | €163 | +€9 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,304 | -€11,298 | -€9,993 | -766% |
| Income taxes | 67/77 | €164 | €174 | +€10 | +6.1% |
| Profit (loss) for the period | 9904 | -€1,469 | -€11,472 | -€10,003 | -681% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,469 | -€11,472 | -€10,003 | -681% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.